PSX Closes at All-Time High Level of Nearly 120,000 Points

The Pakistan Stock Exchange (PSX) resumed its rally on Thursday, taking the benchmark KSE-100 index to an all-time high level of close to 120,000 points. Buying resumed today after Wednesday’s blip as the KSE-100 Index went up by 1,425 points (1.19 percent) to close at record high level of 119,962 points. Following the ceasefire between Pakistan and India over the past weekend, the PSX gained a record-breaking 10,123 points on Monday followed by another 1,278 points on Tuesday. The benchmark index was down by 39 points yesterday but today’s increase has further solidified the gains posted during the week so far. In some positive developments, Pakistan received the second $1.023 billion tranche from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) program on Wednesday. A total of 698,965,992 shares were traded during the day as compared to 609,063,142 shares the previous trading day, whereas the price of shares stood at Rs. 39.089 billion against Rs. 41.913 billion on the last trading day. As many as 457 companies transacted their shares in the stock market, 311 of them recorded gains and 107 sustained losses, whereas the share price of 39 companies remained unchanged.